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Square,
the company that made it possible for anyone to take a credit
card payment from his
or her smartphone, is now making the process of transferring cash
as easy as sending an email with a new
service called Square Cash.

To start, users simply send an email to the person they wish to
pay, put the amount in the subject line and cc "Cash@square.com."
The sender then receives an email prompt to enter his or her
debit card information while the user on the receiving end will
be prompted to enter his or her debit card PIN. Like most other
bank-to-bank transfers, the process takes one to two days.

Square says Square Cash is free to use. For now at least it
appears that Square is targeting individuals with this service,
not businesses. But the service could evolve over time, a Square
representative says.

"Square Cash makes it convenient to send money to anyone --
without making them jump through hoops to retrieve it," Square
Cash lead Brian Grassadonia says in a statement. "Now it's easier
than ever to split a bill, send a birthday gift, or settle up
with a friend, no matter where you are."

The new service works with messages sent from any email client,
whether from a desktop or mobile device. Square has also created
apps for iPhone and Android that allow users to keep Square Cash
right on the home screen.

Square first emerged with a credit card reader that made it
possible for anyone to accept credit card payments on their
smartphone. Since then the company has created several other
tools including Square Register, Square Market and Square Stand
to help entrepreneurs address their commerce needs.

For now, Square Cash is only available in the U.S. but many of
Square's other services are also available in Canada and Japan.